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About Us

We Are National Development

National Development is a vertically integrated real estate investment, development, construction and management firm. We work closely with our partners and stakeholders to create vibrant and interesting places. Through over 300 projects and three decades of experience, we have become part of the communities in which we work. Our local knowledge and relationships combined with our understanding of the global capital markets result in exceptional projects and attractive investments.

Our Mission

We turn projects into communities. We work collaboratively as long-term partners, creating value for our investors and enhancing the neighborhoods in which we build.

DEI Statement

Equal. United. Empowered. We Are Better Together.

National Development values all perspectives and strives toward inclusivity because we believe that equal opportunity and shared success strengthens both our firm and our community. We are actively pursuing a number of improvements within our company that move us toward meaningful, long-term, sustained change. We are committed to fostering diversity, equity, and inclusion through the many ways that we create, build, and impact the communities in which we live and work.

Strength & Capability

Our greatest strength is our people; over 300 team members bring expertise in every aspect of the value creation process, across all property categories including office, research, industrial, retail, senior housing, multifamily and hotel.

The firm’s activities are primarily funded by our closed-end discretionary funds. We launched our first fund in 2006 and have subsequently raised over $1.1 billion via four fully-discretionary funds comprised primarily of endowments, foundations, institutions and family offices. We are currently investing our $400,000,000 Fund IV, which we expect will be deployed into $1.5 – 2 billion of new acquisitions and developments. 

Experience

Over our firm’s nearly 40-year history in Boston, we have developed over 30 million SF in over 45 communities, investing over $6 billion. Our knowledge of the Greater Boston market and its many cities and towns is unparalleled. National Development is consistently ranked by the Boston Business Journal as one of the largest real estate development and investment firms in New England.

Innovation & Performance

National Development has distinguished itself as one of Boston’s most creative and innovative real estate firms, with a long track record of creating great places in which people want to work and live. Our vertically integrated structure, with the discretionary capital and in-house acquisition, development, construction and property management expertise, has earned our firm a reputation for reliably executing thoughtfully conceived projects on time and on budget.  

Our Values

Collaboration

It’s true. We are better together. Through collaboration, we turn visions into realities and projects into communities. Through teamwork, trust and open communication, we inspire each other with a strong sense of purpose to create great places.

Community

We’re committed to working together with the cities and towns in which we work, creating environments that have a deep impact on people’s lives. We also believe in giving back. Every year, we support over 100 charitable and community organizations including United Way of Massachusetts Bay, Heading Home, Building Impact, Foundation for MetroWest, Habitat for Humanity and many others.

Creativity

From innovative deal structures to creative placemaking, we pride ourselves on our ability to think outside the box and maximize the potential of each project. We draw inspiration from history, sound planning and design principles, and community input to deliver projects that empower change, growth and transformation.

What We Do

As a vertically integrated company with in-house capital combined with acquisition, financing, permitting, development, construction and management expertise, we are able to bring a high level of speed, reliability and efficiency to the process of creating great places. 

Investment

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Our firm’s activities are primarily funded by our discretionary, closed-end funds. We launched our first fund in 2006 and have subsequently raised over $1.1 billion via four fully-discretionary funds comprised primarily of endowments, foundations, institutions and family offices. We recently closed our $400,000,000 Fund IV. In addition to ground-up development, our firm is focused on acquiring properties where value can be added through re-leasing, re-positioning and/or redevelopment.

 

Development

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Our development team excels at taking a project from the initial acquisition through construction and stabilization. Our deep understanding of market forces, planning issues, the permitting process, design and financing are the key ingredients to our success. We are primarily focused on the development or redevelopment of mixed-use properties that combine several project types to create vibrant, attractive places.

 

Construction

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Cranshaw Construction is our construction manager/general contractor affiliate. The firm builds office, industrial, residential, life science, retail, hotel and other project types on behalf of both National Development and third party clients. Cranshaw’s capabilities include pre-construction services, site analysis, feasibility and conceptual estimating, plan review and value engineering. The firm is consistently ranked by the Boston Business Journal as one of the top ten largest construction management firms in Greater Boston.

Property Management

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Our property management group is one of the largest in the region and manages nearly 9 million SF of commercial, industrial and retail space, and 3,000 apartment units for both National Development and third party clients. We are committed to maximizing the value of each client’s asset through proactive marketing, tenant retention and community engagement programs, comprehensive maintenance, and detailed financial reporting.  For more information about the residential communities we manage, visit www.ndcommunities.com.

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Awards

2021

2020

2019

2018

2017

2016

  • Building Impact Gold Impact Award

2015

2014

  • Building Impact Silver Impact Award

2013

2011

  • NAIOP Distinguished Real Estate Award

  • The American Consulting Engineers Council of Massachusetts, Excellence Award

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Media

  • National Development’s Massive Dot Ave. Project Recalls Southie’s History

    September 20, 2021

    National Development and funding partner AEW Capital Management have named their 2 million-square-foot, two-city-block project in South Boston “Iron Works,” harkening back to the neighborhood’s history. South Boston Iron Works was incorporated in 1827, supplying materials and supplies to soldiers in the Civil War. It was a major occupier on...

  • Developers Unwrap Plans for Eight-Story Life-Sciences Buildings as Replacement for old WBZ Studios and Antenna in Allston

    August 11, 2021

    National Development and the Mount Vernon Co. today filed detailed plans for the three-building, 700,000-square-foot complex they want to build on the 6.3-acre Soldiers Field Road site that has been home to WBZ since the 1940s. National and Mount Vernon hope to begin two years of construction on the first...

  • Leah Harsfield Named Principal

    August 6, 2021

    National Development has named Leah Harsfield as a Principal of the firm. Leah joins the company’s senior leadership team while continuing to serve as Director of Leasing, where she oversees leasing strategy for National Development’s commercial portfolio. Leah joined National Development as an asset manager in 2013 and has participated...

  • Waterstone of Lexington Luxury Senior Community to Open in 2022

    May 12, 2021

    National Development and EPOCH Senior Living’s Waterstone of Lexington, a luxury senior living community, is on the rise. Construction has begun on the 17.5-acre campus, located adjacent to the Belmont Country Club in Lexington. When Waterstone of Lexington opens its doors the summer of 2022, it will feature 116 independent...

  • Here’s the New Look for National Development’s Proposed Lab, Residential Campus in Southie

    April 6, 2021

    National Development’s plans for a large-scale South Boston mixed-use development now include lab space, with the developer and financing partner AEW Capital Management this month formally pitching their plans for a four-building complex spanning a combined 1.15 million square feet on 5.4 acres in South Boston. The project would include two 11-story...

  • City Living In Boston Will Be Different Inside And Outdoors Post-Pandemic

    February 15, 2021

    During the pandemic, the hustle in many of Boston’s busiest neighborhoods slowed to a stroll. Hotspots in once-jumping neighborhoods like the area near the TD Garden have gone dark. “It’s very empty,” explained Kaylie Hutchinson who lives in across the street from The Fours, a popular restaurant that shut down...


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